Sandra, 27, has 2 young children. She lives in a town on the outskirts of the city. To support her household and her children’s education she began as a merchant selling various products such as women’s clothing, undergarments, accessories and others. Her main dream is to have her own house and to have a big store with a lot of supply.
She is requesting a loan from the Corporation which she will invest in brand merchandise and fashion so that her clients, mainly her neighbours and friends, can find items at good prices and good quality. Broadly generating her income to give her children a good education and provide a high quality of life and wellbeing.
Sandra de 27 años tiene dos hijos menores de edad, vive en un municipio en las afueras de la ciudad, para sustentar su casa y la educación de sus niños, se inició como comerciante vendiendo variedad de productos como ropa de dama, lencería, accesorios y otros. Su sueño principal es el de adquirir su casa propia y el de tener un almacén grande con mucho surtido, solicita un préstamo a la Corporación el cual invertirá en mercancía de marca y a la moda, para que sus clientas mayormente sus vecinos y amigos puedan encontrar artículos a buenos precios y de buena calidad, generándole de forma amplia sus ingresos económicos para darle a sus hijos una buena educación y brindar una vida de mucha calidad y bienestar.
This loan is structured on Kiva as a bullet loan, which means a single payment is required at the end of the loan term. By Colombian law, Kiva's partner Interactuar is required to offer borrowers loans with a variable interest rate that fluctuates with the market rate. Because fixed monthly payments are applied first to interest and then to principal, Interactuar is unable to predict upfront what portion of each repayment would go towards the loan principal. This creates a challenge with Kiva's system, which doesn't allow for unpredictable principal payments, and can result in some Interactuar clients appearing falsely delinquent. To remedy this, the loan has an end-of-term repayment plan on Kiva, but the borrower will continue scheduled monthly repayments to Interactuar, who will then pass along the principal amount to Kiva lenders. This means that you may see repayments made on this loan throughout the repayment term, as opposed to receiving repayment in full at the end of the loan term.